FORT WORTH, TX-Trademark Property Co., which has carved out massive Texas mixed-use developments including Market Street in The Woodlands and Watters Creek in Allen, is taking a step back from construction. The company has beefed up its investment decision with the appointment of Tommy Miller to chief investment officer and Bill Morris to the position of chief acquisition officer.

The investment team is overseeing the launch of Trademark Property’s first fund, Anchor Realty Fund I, a $50-million investment vehicle geared toward acquiring mixed-use and urban infill assets. “That’s what we know, that’s what we’ve been doing, is owning, operating and developing mixed-use retail urban developments for the past 18 years,” comments Trademark Property founding partner Terry Montesi. With co-investment and equity criteria, the fund could be leveraged to between $400 million and $600 million.

Montesi tells that Trademark Property has targeted 21 cities across the country for potential acquisitions. The fundamentals examined included job and population growth, quality of life and population age. This led to cities stretching from California, through the sun belt and into Colorado, he comments.

As of now, the only construction project Trademark Property is working on is a $50 million upgrade of the 1-million-square-foot La Palmera shopping center in Corpus Christi, TX. Once that has been completed, Montesi tells that the construction shovels will be put aside for awhile in favor of a focus on operations and property management.

“We believe that the market during the next five to 10 years will be about operations, so we’re focused on getting great asset management, leasing and advisory services, Montesi tells This is why, he goes on to say, that Miller’s and Morris’ promotions are so important.

Trademark Property has gone one step further and hired Daniel Upton as senior vice president-asset management, who will oversee Trademark’s Property Services Division. The new division will handle Trademark-owned properties as well as those belonging to third parties.

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